Final answer:
The question pertains to legal principles of foreclosure and debt obligations, particularly when jointly incurred debts lead to the foreclosure of an estate, as seen during economic hardships faced by farmers.
Step-by-step explanation:
The statement 'the estate is subject to foreclosure only for jointly incurred debts' pertains to specific legal principles regarding debt obligations and the foreclosure process.
For instance, during the economic hardships where farmers could not meet their mortgage payments, resulting in the loss of their properties through foreclosure. This was particularly true when smaller institutions faced closure, as the federal government observed during those crises. A foreclosure due to jointly incurred debts implies that both (or all) parties who have entered into a debt agreement are equally responsible for the debt, hence the property can be foreclosed if the debt is not paid.